How to actually turn your kids into CPF Millionaires?

Watch this video to learn how to actually top up your kids’ CPF account, and view it. Trust me, It is a complicated process.

Slides are here

[Huathuatah]

I learnt something new from this video. I just login to CPF, went to search: My Child and I saw this Child Dashboard. I clicked on it and a message pop out and ask me to click yes to declare that I am the legal guardian of the child. After that I can straight away view the balances of my child's CPF 3 accounts. Dun need to apply or go mailbox at all. We can view our children's CPF as long as they are below 21. Thereafter, it's not allowed. I started topping up my children's CPF accounts 2 years ago. I top up every two to three weeks using the savings from their pocket money. Sometimes it's hong Bao money or some rewards. My eldest received a govt scholarship and she receives monthly allowances. However we decided that as parents, we still have to give her pocket money so every month, we top up her three CPF accounts with $500 dollars and I think this is much better than leaving the money idling in the bank. 😝

[MJ-bkxw]

Instructions to top up your child's CPF starts at 35mins.

Thanks, Mr Loo and I have taken action after watching this video.

[amostan]

All of these we know is a good choice to do that but how do you get the money?

[alvinhuang]

Thanks for sharing this concept. Didn't think abt it this way. This is a gift I believe is good for my children.

[limliza]

Congrats to your son. This is a good insight on how parents can help their kids financially.

[keantan]

Actually the grand children will benefit most after the grandfather & father pass away...We have to pray hard that Singapore economy will remain good for the next 50 years.

[hazelnut]

But Mr Loo, I use to also get so motivated by the compounding effect until I realised I forgot to consider inflation. By the time I got 1m, that same 1m will worth 200k in today's value.

[choongmengsitoh]

How to get the link?
Any restriction amount to talk up the SA?

[joycebetan]

Below 12 Yr old, don't have IC, how? Birth Certificate No?

[ryankoh]

Good to hear that Mr Loo. Happy for u and ur family.

[tedchandran]

Jai Hinduja. From now on, most folks could easily become hdb millionaires before they kick the bucket

[frankkoh]

Nr. Loo, My son in his 46 single, can I top 65k to his RA, can he receive the 5% interest

[eeyonglin]

Congrats Mr Loo. Thanks for sharing all these life experiences with us.

[laitengchai]

Thanks for sharing Mr. Loo. May i know how can i get the slide? thanks

[melindayue]

Mr Loo, OA wat interest ? Can withdraw anytime ? I am 70yo. 😇

[Msiaboleh]

Hi Mr Loo, would u advise borrowing bank loan or using CPF OA for housing?If we use OA, and then gradually do a mthly Volunteer Housing refund to earn back 2.5٪. Which option make better finance sense? Thanks.

[loischan]

thank you Mr Loo for the free advice. Have done the top up for my daughter, very fast & easy to do from mobile app and also put your name for referral. ☺️🙏🏼

[gohpohchoo]

Hi Mr Loo, I’m a new subscriber to your YouTube channel.
Firstly, congrats to your son’s stellar result. And a big thank you for all your selfless sharing which help me to understand better about CPF and financial management.
May I know how to get the slides in the video?
Thank you.

[jennng]

Tried to top up to my 5 year old grandson's SA account using cash (paynow) but the money keep returning back to my bank. Wondering why? Email to cpf no reply?

[calynnsim]

Mr Loo, can we do a cash top up of $7k a year to our children CPF account and get tax deduction?